Abstract:In order to discuss the influence of the risk preference on the pricing decision of dual-channel supply chain, and the pricing decision models based on conditional value at risk(CVaR) are built, and the optimal price decision is obtained. It is found that the members of the supply chain will adopt different pricing decision according to different risk preferences. When the manufacturer’s risk preference is certain, the more the retailer hates the risk, the lower the retailing price is, the higher the wholesale price is, and the same or higher of the direct sales price will be. When the retailer’s risk preference is certain, the risk-averse attitude of the manufacturer will cut down all the optimal prices. In the risk-taking scenario, the results are just contrary.